Low salary, 2 year bond, Need to give a 2 Lakh cheque before joining - SAP SD Functional Consultant SAVIC Employee Review

Very low salary. I was given an offer of 2.4 LPA. This is about 50% less than the industry standard. On top of that, it is a new company and no one knows which direction the company might take. There is a non-negotiable bond for 2 years that they asked me to sign before joining. I have to deposit a cheque of Rs 2 lakhs before joining as well. Real stinker.